If successful, the pair might attempt a pullback that will face resistance at $1.36.On the other hand, if the support zone at $1.0464-$1.0075 breaks down, it can drop to the next support at $0.80.
The Link/USD pair has been consolidating between the psychological support of $1.50 and the previous support turned resistance of $2.0531 for the past four weeks.
Conversely, if the bears succeed in breaking below the support of $1.50, a drop to $1.3139, which is the 78.6% Fibonacci retracement of the entire rally is probable.
The bounce from the $0.244553-$0.207622 support zone fizzled out at the 20-week EMA. Both moving averages continue to slope down marginally and the RSI is in negative territory, which shows that bears have the upper hand.
If the price slides below the support zone, it will be a huge negative because the next support on the downside is way lower at $0.104073.
As the bulls have been defending the support zone for the past six weeks, the possibility of a breakdown is low.
Either buy on a rebound off the support zone, which gives a close stop loss, or wait for the price to rise above $0.335, which shows that the bulls are back in action.
XTZ/USDBinance added support to Tezos and trading commenced on Sept. 24.
The bulls are attempting to defend the critical support of $0.829651.
Conversely, if the XTZ/USD pair bounces off the support at $0.829651, it will act as a higher low.
Top-5 Crypto Performers: LEO, LINK. MIOTA, XRP, XTZ
Publicado en Sep 29, 2019
by Cointele | Publicado en Coinage
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